You can deficit spend indefinitely as long as your deficit percentage is below your economic growth percentage. That keeps the total debt as percentage of the economy stable and the amount of tax you need to service the debt a stable percentage of your total tax.

If you do that it can be a good idea. It's a way to accelerate investment. It can also be a good idea to modulate your deficit in a cycle counter to the economy so that it acts as a stabilizer.

The US has been failing on all these. The deficits are too large and are high both in good and bad times. Eventually that breaks things.

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mminer237 2 hours ago | parent [-]

Infinite growth is impossible, therefore the deficit has to be paid down some day.

	▲	pedrocr 23 minutes ago \| parent [-]
		Infinite growth is possible as long as your economy trades things that are not physically constrained. Art can grow in value over time without hitting any constraints. And even if your economy doesn't grow in real terms, to service debt all you need is for the economy to grow in nominal terms, to have inflation. And even if your economy stagnates completely and has zero inflation you just need to bring your deficit to zero to maintain the debt level. Every year you can just pay the interest on the debt from taxes and your debt as percentage of the economy stays stable without ever paying down the debt.